Forensic & Internal Audit

Driven by the urge to provide personalized customer-centric service, Baker Tilly Forensic and Internal Audit Unit is re-designed to provide exceptional service in fraud and risk solutions, litigation support (offensive and defensive bench), internal audit assurance and consulting support, and asset tracing, and recovery services.

Forensic and Internal Audit at a glance

Baker Tilly Kenya is a brand with a global recognition through Baker Tilly International membership as a top ten accounting and business network. Baker Tilly International family of 125 firms has its presence in 147 countries and more than 30,000 personnel globally.
The firm has a redefined solutions for FORENSIC AUDITING, INTERNAL AUDITING, and RISK MANAGEMENT service unit and it prides itself to provide premier solutions in fraud management, internal controls, governance, and risk management globally with a focus to safeguard clients value.
Driven by the urge to provide personalized customer-centric service, Baker Tilly Forensic and Internal Audit Unit is re-designed to provide exceptional service in fraud and risk solutions, litigation support (offensive and defensive bench), internal audit assurance and consulting support, and asset tracing, and recovery services.

Forensic Audit, Internal Audit & Risk Management

Every organization is vulnerable to fraud. The majority of organizations are unaware of fraud indicators. In cases of fraud, the organization is found to be uninformed, and hence unaware of an appropriate response strategy. As a result of the steps taken, the victim organization is exposed to additional risks such as a tarnished reputation, lawsuits, and financial risks. Baker Tilly is the solution; give us a try right now.

Why Outsource The Internal Audit Function With Baker Tilly?

Baker Tilly will help with suspected, proven, or alleged fraud perpetration, litigation support, or business disagreements by conducting a full investigation and giving support throughout the process in accordance with the agreed-upon objectives.

Baker Tilly assists our clients in determining the likelihood, impact and velocity of perpetration of fraud. This includes evaluating vulnerability of your control environment for potential fraud. Internal controls are examined using scientifically validated models such as fraud triangle models. We provide forward-thinking prescriptive recommendations as well as comprehensive implementation support.

Baker Tilly offers professional witness services for either the offensive or defensive bench, including assistance with disputed business valuation, reconstruction of lost profits, quantification of fraud loss, insurance claims, intellectual property disputes, reconstruction of modified financial statements, and so on.

Baker Tilly may be hired to perform due diligence during personnel recruiting, vendor transactions, business mergers, strategic alliances, director appointments, suspected tax evasion, and so on.

Baker Tilly will assist clients in tracing assets obtained from fraudulent proceeds by fraud suspects.

We will restructure anti-fraud reviews, controls, and process harmonization programmes, such as whistleblowing, fraud investigation drills, and surveillance investigations.

Risk Management Solution

Most organizations continue to be exposed to risk and equal opportunities as a result of the dynamics and ever-changing business internal and external environment. Traditional risk management approaches and procedures make firms less competitive. With rapid technological improvements, legal and compliance dynamics, high customer expectations, and globalization, organizations are being compelled to redefine and redesign their strategy in order to stay competitive. Trust Baker Tilly to carefully manage your risks as you pursue long-term strategic growth. We will walk together through the road of incorporating risk management into your strategies and exploring the equivalent opportunities.

Efficient and flexible staffing
Baker Tilly will adapt quickly to changes in the organization’s risks, audit demands, and staffing in order to reduce the client’s risk of attracting and maintaining qualified audit employees.
Reduced cost of maintaining an effective and efficient internal audit function
Baker Tilly gives you instant access to professional resources. Because of our wider customer base and shared costs, our clients will only pay for what they need, where they need a review, and how long they need internal audit services at a flexible and friendly budget by eliminating personnel maintenance costs (staff benefits, retirement, and training demands).
Access to a diverse bench of audit expertise
Baker Tilly’s internal audit solutions will provide our clients with a larger pool of resources and diverse knowledge as needed. We will employ Baker Tilly’s audit approach, as well as training and resource management.
Increased audit productivity
Clients of Baker Tilly only pay for internal audit and risk management services; there is no downtime, training, recruiting, or other non-audit operations included. Internal auditing techniques and technologies that are cutting-edge are used.
Enhanced objectivity
Baker Tilly is better positioned to provide clients with unfiltered, more candid oversights, insights, and foresight-based opinions on their strategy, controls, processes, and systems.

INSIGHTS: TRENDS IN FRAUD, RISK, CONTROLS & GOVERNANCE

Forensic accounting and fraud investigation services have recently acquired prominence as a key activity in the quest of strategies to prevent financial misbehavior and protect resources. According to the ACFE Report to the Nation, organizations lose an average of 5% of their global annual revenues.
According to the ACFE 2022 Report to the Nation, approximately USD3.6 billion was lost due to fraud in 2021 from 2,110 cases in 123 countries examined, assuming that every cent lost to fraud represents an equal loss recorded on revenues generated. Due to the high level of concealing mechanisms and collaboration, detecting fraud remains a global challenge. According to the ACFE Report to the Nation 2022, 42 cases were discovered through tips, and 18 percent were discovered through internal audit. Top management fraud by executives and owners was reported at USD337,000, followed by USD125,000 by managers with operations, accounting, sales departments, and upper management rated as high risk at 15%, 12%, 11%, and 11%, respectively.

The fundamental motive for financial and economic wrongdoing is a lack of anti-fraud procedures and an over-reliance on obsolete systems. Almost half of all fraud cases were caused by a lack of controls (29%) or control override (20%).
In conclusion, as fraud management remains a thorn in practically every organization’s flesh, forensic accounting and expanded internal audit reviews become the ultimate hope in the battle against graft, both proactively and reactively. It is on this basis that Baker Tilly Forensic Accounting and Internal audit unit provides the long-awaited solution to the fraud and litigation menace. Most fraud victims are taken off guard and have no idea how to respond offensively or defensively to fraud, resulting in rash decisions. Baker Tilly becomes a trusted partner in assisting our client’s growth.

INSIGHTS: TRENDS IN FRAUD, RISK, CONTROLS & GOVERNANCE

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INSIGHTS: TRENDS IN FRAUD, RISK, CONTROLS & GOVERNANCE

We provide internal audit services to any organization, regardless of size, nature, or complexity. Our agile and forward-thinking internal audit services are intended to provide an independent and objective function that strives to help our clients provide confidence that they are: safe, secure, and compliant, efficient and successful in their operations, and forward-thinking. We shall demonstrate our worth by constantly carrying out our internal audit procedures, with a primary emphasis on oversight, intelligence, and foresight. We will have a variety of flexible engagement agreements, such as full or partial outsourcing, co-sourcing, or subcontracting.

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